Today's Edition
ABU DHABI (WAM)
The Middle East and North Africa Financial Action Task Force (MENAFATF) said on Monday that the United Arab Emirates has assumed the gorup's presidency for 2026, represented by Hamid Saif AlZaabi.
The UAE’s presidency comes at a defining moment for the region, as MENAFATF prepares to launch the third round of mutual evaluations in alignment with the Financial Action Task Force (FATF) fifth-round methodology.
Under the UAE’s leadership, MENAFATF will focus on strengthening regional readiness for mutual evaluations, modernising governance frameworks, deepening international cooperation, and advancing solutions to new and emerging financial crime risks.
The UAE Presidency forms part of a joint, two-year sequence with the Kingdom of Bahrain, which will lead the Group in 2027, reflecting a shared commitment to continuity and long-term regional capacity building.
AlZaabi said,“It is a great honour to take on this leadership role. The Middle East and North Africa play a vital role in the global financial system today. Our region connects continents, markets, and major trade corridors, and what happens here increasingly shapes international financial stability."
He added, "As the UAE assumes the Presidency of MENAFATF, our focus is on strengthening the region’s resilience and ensuring that our collective efforts contribute meaningfully to the global fight against financial crime. By working together, we can elevate standards, build stronger institutions, and deliver lasting impact for our region and the world.”
Executive Secretary of MENAFATF, Suliman Al-Jabrin, said that the joint priorities agreed by the UAE for 2026 and Bahrain for 2027 reflect a forward-looking vision for the Group. They provide continuity, strengthen governance, and support member states as they prepare for the upcoming round of mutual evaluations. This coordinated approach will enhance MENAFATF’s effectiveness and reinforce its role within the global AML/CFT network.
The UAE 2026 presidency will prioritise enhancing institutional governance and internal structures of MENAFATF to enhance the efficiency of the MENAFATF and its Secretariat and strengthen its resources.
International partnerships will form another central pillar of the UAE’s presidency, with expanded engagement planned alongside FATF, peer regional bodies, and international observers.
Dedicated workstreams will focus on the latest trends, risks, and experiences related to virtual assets, fintech, artificial intelligence, beneficial ownership transparency, and enhanced cooperation on asset recovery, in line with global AML/CFT priorities.
MENAFATF members welcomed the UAE’s presidency and its comprehensive programme for 2026, noting that it will help advance regional cohesion, strengthen national capabilities, and align MENAFATF’s work more closely with global standards and emerging risks.
The Group comprises 21 member states from across the Middle East and North Africa. Together, these economies represent an estimated combined GDP of more than $3 trillion, underscoring the region’s strategic importance to global financial stability and the international fight against money laundering, terrorist financing, and proliferation financing.
